4 Technologies Helping to Overcome Challenges in Property Management

Managing a commercial property is anything but easy. The large buildings, multiple tenants, and complex tasks mean that there’s always something that needs to get done. Thankfully, it’s 2019 and CRE technologies are gaining serious momentum. Today’s world is full of solutions to streamline the property management workflow. 

Technology is revolutionizing the property management business by providing convenient answers to common pain points. Let’s check out these 4 types of technologies and how they’re helping to optimize CRE property management.

IoT and Connected Solutions

The rise of the Internet of Things spearheaded commercial real estate. With its advanced connectivity and deep insights, these Smart technologies are a manager’s greatest asset. 

One of the biggest challenges faced by commercial property managers is the number of moving pieces involved in their business. Different units, tenants, team members, building systems, organizational platforms – the list goes on. When things are disconnected, it’s easy to fall behind and miss tasks. 

This is where Smart technology and IoT step in to save the day. These software consolidate everything into one – enabling enhanced organization and clarity. It becomes easy to stay on top of everything that’s going on in a commercial property. 

Many of these systems use mobile apps, meaning that property managers can be in the loop even when they’re not on-site. Not only does this enhance the job’s mobility, but it also prevents potential problems from arising. 

User-Friendly Software to Streamline Workflows 

Technology is made to work with you – never against you. Contemporary tech tools are being designed with the users in mind, providing enhanced accessibility and convenience. 

User-friendly tech software is a property manager’s best friend. The industry’s complex workload means that organization is key to success. Property managers need to be able to clearly see their to-do lists, building insights, messages, and schedules. 

User-friendly systems ensure that managers will never miss a beat and are always on their A-game. These software use color-coded schemes, an easy to read format, and alerts that help keep business on schedule. 

Artificial Intelligence’s Preventative Approach 

AI is now a player in contemporary property management as it has the power to save time, money, and energy. 

Technology’s ability to foresee developing problems shifts property management into a preventative strategy. Instead of dealing with issues once they’re already in full swing, property managers can prevent them from ever actualizing in the first place. 

Even when something does go wrong, AI can catch it before it gets worse. This system of preventative maintenance is powered by tight monitoring systems and immediate alerts. 

AI sensors are a part of nearly every IoT or Smart building system, using insight and predictive algorithms to snuff out issues and solve them quickly. 

Data-Driven Insights 

The intensive analysis made possible by technology is fueling a new wave of information. Data can be used to build business strategies, develop insightful decisions, and make meaningful improvements. Property managers who depend on data are taking steps towards total optimization. 

Property managers – don’t fall behind. Make sure you’re using technology to its fullest. For more CRE insights, check out our blog.